Quote:
Originally Posted by ike84
I'm not so sure, backlogs for new vehicle deliveries are still so far behind that the repos may just help knock that problem down a bit. While some prices may be dropping, I see that more as a function of gas prices than car values. I could be completely wrong though, it will be interesting to see!
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Yeah, I wasn't specific in my last post but I meant the used car mkt. When the pandemic started and the chip shortage hit, the lack of new cars defn drove the price of used up. But it seems new and used have decoupled now. New buyers have converted from buying what's on the lot to putting in an order and waiting or watching the incoming sheets and snagging an unsold car before it arrives. We had a breakfast Sat at our dealer and the sales mgr said they sold 30 new cars in June - a record. But of all the cars they had on the showroom floor, only 1 was for sale - a 911 speedster for $420K. Mention my name if you decide to buy it.
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